Branded Price Variation in the United States Drug Market, 2010 to 2019
Branded drug prices command considerable attention in the United States yet defining a drug’s price is not straightforward because they vary substantially across settings. We link branded drug prices across a host of publicly available data sources to document price levels and trends from 2010 to 2019. Our sample is broad, representing $1.67 trillion in net revenues to drug makers, and includes a number of payers across both the pharmacy-dispensed and physician-administered markets. We find a substantial pricing variation among payers and observe that the list is an increasingly poor proxy to represent net prices; this has implications for economic evaluations and drug pricing debates.